{"id":23772,"date":"2022-07-13T09:49:22","date_gmt":"2022-07-13T09:49:22","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2022\/07\/13\/european-shares-decline-on-growth-worries\/"},"modified":"2022-07-13T09:49:22","modified_gmt":"2022-07-13T09:49:22","slug":"european-shares-decline-on-growth-worries","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2022\/07\/13\/european-shares-decline-on-growth-worries\/","title":{"rendered":"European Shares Decline On Growth Worries"},"content":{"rendered":"
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European stocks were moving lower on Wednesday, with banks and miners leading losses on fears that central bank moves to fight inflation would spark a recession. <\/p>\n

Investors await key U.S. inflation data later in the day for clues on the outcome of the Fed’s upcoming policy meeting. <\/p>\n

Data showed earlier in the day that Eurozone industrial production rose 0.8 percent sequentially in May, well above expectation for a 0.2 percent increase. <\/p>\n

The British pound appreciated against its major rivals after data showed that the U.K. economy<\/span> expanded faster than expected in May.<\/p>\n

U.K. GDP rose 0.5 percent on month in May, after a revised decline of 0.2 percent in April. Economists had expected a growth of 0.1 percent.<\/p>\n

The pan European Stoxx 600 was down 0.6 percent at 414.46 after gaining half a percent on Tuesday. <\/p>\n

The German DAX dropped 0.7 percent, France’s CAC 40 index slipped 0.4 percent and the U.K.’s FTSE 100 was down 0.6 percent. <\/p>\n

Italian insurance company Assicurazioni Generali fell about 1 percent. The company said it has achieved the threshold of 95 percent share capital of Societ\u00e0 Cattolica di Assicurazione S.p.A., to allow Generali to purchase the remaining shares.<\/p>\n

Finnish drug maker Orion surged 7.7 percent after raising its full-year outlook.
Credit Suisse gave up almost 2 percent after the Swiss lender postponed the initial public offering of its real-estate fund 1a Immo PK due to market conditions.<\/p>\n

SAS soared 11.6 percent on reports that the embattled Scandinavian airline and unions representing pilots on strike will resume talks today in a bid to end the dispute which started on July 4.<\/p>\n

J D Wetherspoon shares slumped more than 8 percent in London after the pub chain warned it will plunge to an annual loss for the third year running.<\/p>\n

Concurrent Technologies jumped 7.4 percent after the manufacturer of high-end embedded computer boards for critical applications said it has entered into a supply agreement with a Fortune 500 global medical technology<\/span> company.<\/p>\n

Miner and trader Glencore declined 1 percent after completing the sale of a royalty package to Sandstorm Gold Ltd.<\/p>\n

Oil & gas exploration firm Tullow Oil fell over 1 percent despite backing its FY production outlook.<\/p>\n

Shares of power group EDF were suspended in Paris amid plans for its nationalization.
Gerresheimer AG, a maker of medical packaging products, jumped 5.4 percent after confirming its FY22 view. <\/p>\n<\/p>\n

Business News<\/p>\n<\/div>\n